Casa Systems Q4 Profit Down; CEO Jerry Guo To Retire

Casa Systems, Inc. (CASA) Tuesday reported its fourth-quarter results and also announced that Jerry Guo will retire as President and CEO.

Revenues for the fourth quarter was $84.4 million, down from $105.1 million last year. Net income for the quarter was $1.24 million or $0.01 per share, compared to $1.53 million or $0.02 per share.

The company announced that Jerry Guo will be retiring as CEO and President effective March 17, 2023. He will remain as an active member of the Casa Systems' Board of Directors. Guo founded the Company in 2003.

The Board has retained an executive search firm to identify Guo's successor. Edward Durkin, the company's CFO, will serve as Interim CEO until the company's new CEO is hired, with advisory assistance to be received from Jerry, and with functional support across all other disciplines from the Casa senior management team.

For the fiscal year 2023, the company currently expects revenue between $300 million and $325 million.

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